It might appear small change compared with the billions lost through Bernard Madoff’s $65bn Ponzi fraud but the scheme’s victims are at least set for a small piece of payback. Nearly 200 items belonging to Madoff and his wife Ruth were auctioned in New York on Saturday by the US government, with the proceeds going towards compensating the victims. The auction raised about $1m, double the amount expected as most of the items sold for well above their listed prices.